Where do you start?

Most likely, your first question and the question posed to you by your representative will be, “How much can I afford?”  The answer to this question, oftentimes, depends on a number of key factors. These may be;


In addition, there will be other associated cost when buying a home.  Planning ahead is always the best course of action and in so doing, it’s a good idea to work out exactly what you want versus what you can afford before you embark on your search for the perfect home.  Be as specific and as detailed as possible when calculating your budget.  The last thing any of us wants is to see your dreams of home ownership becoming a nightmare of unforeseen bills and additional expenses. Once you have calculated your budget, restrict your search to homes within your price range.  Communicate your range to your representative; they will help you stay on track.

It’s always a good idea to speak to your lender before embarking on your search.  Your bank or mortgage company will assist you in determining what you can comfortably afford and what options are available to you when deciding what type of mortgage is best for you.  Meeting with your lender will also strengthen your negotiating position with a seller by providing you with either a commitment letter or a mortgage pre-approval.

Now that you have determined what you can afford and what your monthly expenses are, you can begin having some fun searching for homes.  Keep in mind that looking for that perfect home is an exciting time and is supposed to be fun.  It is possible that the first home you see, turns out to be the one for you.  It is also possible that you may need to view a few before finding the right fit.  Sometimes patience is a virtue and pays off big dividends; so be patient and allow yourself to enjoy the experience; rest assured that your home is out there and waiting to be found.